Despite the presence of these sophisticated bankers in India, treasurers still face problems, chief among them
currency convertibility.
After unifying the dual exchange rates of the Chinese currency renminbi (RMB) and implementing a managed-float system on January 1, 1994, China formally committed itself to partial
currency convertibility, that is,
currency convertibility under the current account, in December 1996.
Section 2 describes the exchange rate data utilized in this study and the methodology employed to evaluate whether the official exchange rate was appropriate for introducing
currency convertibility.
As a practical matter, however, countries in which privatization is a priority also moving simultaneously to reduce restrictions on capital flows and
currency convertibility.
Likewise, in China, the absence of
currency convertibility -- together with a weak financial supervisory framework, which reflects a broader problem related to poor implementation of the rule of law -- is impairing the economy's prospects for leadership.
Currency convertibility and controls over capital movements are also matters for consideration.
Currency convertibility measures are meant to convenience those tourists and Taiwanese traveling to China via the direct weekend charter flights.
Coordinating with Beijing on how to realize Ma's goals, as well as hammering out the details of achieving
currency convertibility between China's yuan and the Taiwanese dollar in Taiwan and fully opening up the island to Chinese tourists, are likely on Chiang's agenda as his trip to China nears.
the first positive and undoubtedly promising results of price stability,
currency convertibility, deregulation, and privatization.
True
currency convertibility still does not exist, although recently the official rate of exchange for the dollar was only 30 percent below black-market standards, which is good for Eastern Europe.
On January 6, 2002, the Government of Argentina cancelled the long-standing
currency convertibility law which had established a conversion rate of one Argentina peso for one U.
The risks of
currency convertibility and transferability, however, are being assumed by the counterparties under the respective cross currency swap agreements facilitating ratings on the class A US$ euronotes of triple-'A'.
